Rhode Island Prefers Business Valuation Principles to GAAP for Damage Calculation Purposes

Business Valuation Update BVLaw
Legal and Court Case Update
May 19, 2004

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contract
Climaco Guzman v. Jan-Pro Cleaning Systems, Inc. (Guzman II)
No. 96-4703 (R.I. Supr. 2004)
US
State Court
Rhode Island
Superior Court
Anthony Marciano, CPA <br> Peri Ann Aptaker, Esp. <br>
Indeglia

Summary

The Rhode Island Superior Court affirmed an award of lost profits in this breach of contract matter, which deducted labor costs as an ordinary expense to an owner-operated cleaning business.

See Also

Climaco Guzman v. Jan-Pro Cleaning Systems, Inc. (Guzman II)

Full Text of Court Cases
May 19, 2004

The Rhode Island Superior Court affirmed an award of lost profits in this breach of contract matter, which deducted labor costs as an ordinary expense to an owner-operated cleaning business. The court ruled that business valuation principles, which consid ...